Since 2001, we've posted 21,213 different business opportunities and ideas, so you're sure to find something here to inspire you!
Don’t Quit Your Day Job: Part Time Entrepreneurship
I’ve said it before and will undoubtedly say it again: Don’t quit your day job when you start a business!
Jerry Osteryoung, Professor of Entrepreneurship at the the College of Business at Florida State University, agrees:
One of the best ways to find out if you have what it takes is to test your entrepreneurial skills on a part-time basis. This approach is much better than quitting your job and going all in with nothing to fall back on.
Frequently, I see small businesses fail not because the owners lack the skills and capital, but because their business concept was not viable. In cases where these entrepreneurs started part time, they were able to greatly reduce their capital loss and preserve their full-time jobs.
Related Businesses in the Directory
Related Posts
Related Resources
BeckyKate on March 28th, 2011 3:02 pm
My company helps people who are starting small businesses file their articles of incorporation, etc. We see a lot of people who just put all of their eggs in one basket and it’s risky. I think its a great idea to start part-time so you don’t run the risk of losing more than you imagined.
Roy Lewis on March 29th, 2011 6:19 am
Recently met someone who was just starting a new bsuiness venture. In addition to giving up their day to day income, they were unable to explain why anyone would want the services of their new venture. They were quite defensive too. Bad planning at best.
Paul Sadowski on March 29th, 2011 6:23 am
I started Picture Pages on a part time basis and before the first year was over I was spending so much time that my employer asked me to give up my dream. We decided I had too much invested and he terminated me at my request. For six months or so I worked full time developing the product and did quite well getting production done. His words when he let me go always stick with me. He said that if the product was an overnight success he would keep me working for him, but most of the time you will hit on hard times and then all of your efforts have to go into your business and he couldn’t afford to be second. He was very correct and when I put all my effort into Picture Pages other employers don’t need me. Fortunately I have been able to go back and forth; like at the present time I have to generate more cash than Picture Pages can, so I found a dealership that needed a finance manager and fortunately with over 25 years experience in that area, they made room for me and i have other people pushing Picture Pages at the present time. I have come to the conclusion that as an entrepeneur we will do whatever we have to when we want to realize our dream.
If it is your choice the title of this article is very good advice, but remember once you’re all in, it might not be up to you.
Angela Shupe on March 29th, 2011 7:55 am
I agree, part-time is the way to go when getting started. This way you can test the waters before going head first into the business. It would be much more devastating if the business failed and there is no job on the side to help pay the bills. It’s just important to know when it is the right time to move from part- to full-time.
Andy @ FirstFound on March 29th, 2011 8:01 am
Having a fallback plan is always sensible. Your man’s got it right here.
Roy Lewis on March 29th, 2011 9:48 am
Fall back plan – indeed. Knowing how hard it is to get going and make enough to cover the costs, which are always the highest per item when you get started, I would suggest to anyone that they need at least 2 years worth of living expenses in reserve before they start up.
A tall order, but if you can organised enough to do that, then your chances of surviving are somewhat higher.
Leave a Reply